The latest tower to go up in the long-in-the-works Pacific Park (Atlantic Yards) mega-development is a market rate one on the corner of Pacific and 6th Avenue in Prospect Heights, once known as B5. The developer, The Brodsky Organization, has applied for a tax break under the stateâs 421-a program and as a result, the building has income-targeted, rent-stabilized units whose lottery launched last week. Interestingly, Brodsky is not calling them âaffordableâ but rather âmiddle income.â
The 421-a program is set at an Area Median Income of 130 percent â" slightly more than the median income for the greater New York region.
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The building under construction last year. Photo by Craig Hubert The latest tower to go up in the long-in-the-works Pacific Park (Atlantic Yards) mega-development is a market rate one on the corner of Pacific and 6th Avenue in Prospect Heights, once known as B5. The developer, The Brodsky Organization, [...]